The Story
This client needed to improve the accuracy of its demand forecasting, using machine learning to handle its large volumes of data with a high number of SKUs. To address this challenge, Chesamel worked to come up with an innovative solution for Phantom Inventory and other related inventory anomalies.
Impact
The solution improved sales and returns recording, as well as inventory audit frequency, leading to a better customer experience and more insightful, actionable demand forecasting. As well as capturing $187M in incremental revenue, the client achieved >79% true positive predictions and <20% false positive predictions.
Methodology
Our Artificial Inventory Intelligence product was developed to help retailers identify location or SKU combinations that are candidates for stock-outs.
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